The North American Electric Bus market is anticipated to grow with a significant CAGR during the forecast period (2019-2025). Increasing consciousness of automobile emissions, lower running, and maintenance costs, as well as rising government measures to promote the use of electric vehicles, are the major factors that are expected to play a chief role in contributing to the growth of the North American electric bus market.
The government of the US and Canada both are taking initiatives to increase the adoption rate of electric buses in the country. For instance, in January 2021, the US government has announced that it will replace its entire fleet of 645,000 cars and trucks with US-made electric vehicles. The government is aiming to promote Made in America electric vehicles. Further, through this development, the government is also aiming to persuade citizens in opting for electric cars by launching such initiatives.
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Further, new development and rising competition in the EV industry is also expected to drive the North American electric bus market. For instance, in September 2020, BYD Canada announced that it will put into service 10 zero-emission, 40-foot K9M battery-electric by the Toronto Transit Commission (TTC), in Toronto, Canada. Further, the company also announced that in the coming years, it will increase the electric bus fleet size, which is expected to drive the electric bus market in the region.
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Market Coverage
- Market Number Available for – 2018-2025
- Base Year- 2019
- Forecast Period- 2019-2025
- Segment Covered- Bus Type, Battery Type, and End-User
- Region Covered- North America (US, Canada)
- Competitive Landscape- Proterra Inc., BYD Co. Ltd., Daimler AG, and Others
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North America Electric Bus Market Report Segments
By Bus Type
- Hybrid Electric Bus
- Fuel Cell Electric Bus
- Battery Electric Bus
By Battery Type
- Lithium-ion
- NiMH
- Others
By End-User
- Government
- Fleet Owner
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
